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How to register a construction company in Pakistan

How to register a construction company in Pakistan

Suppose you have a construction company or contractor who works in the construction industry field. In that case, you should know more about "How to register a construction company in Pakistan?" Several government organizations and related procedures are required when it comes to the registration of construction companies in Pakistan. 

 

Why you should register your construction company in Pakistan

To start work on any of the construction projects by the civil or government authorities without obtaining a NOC (no-objection certificate) from the SECP (Securities and Exchange Commission of Pakistan), FBR (Federal Board of Revenue), and PEC (Pakistan Engineering Council). The registration process makes your construction company lawful and secure to work inside the construction industry of Pakistan.

 

It involves three parts/phases, which are as follows

To register your construction company in Pakistan, you need to process three different stages involving three various institutions, which are as follows:

1.          Register your construction company in Pakistan with the SECP (Securities and Exchange Commission of Pakistan)

2.         Registration of your construction company in Pakistan with the FBR (Federal Board of Revenue)

3.         Registration your construction company in Pakistan with the PEC (Pakistan Engineering Council)

 

SECP (Securities and Exchange Commission of Pakistan)

The SECP (Securities and Exchange Commission of Pakistan) functions as the highest degree of financial regulatory authority for businesses and companies inside Pakistan. It would take about 1.5 months or 45 days on average to completely process the registration of your construction company inside Pakistan.

 

There are three steps when it comes to the registration of your construction company inside Pakistan with the SECP (Securities and Exchange Commission of Pakistan)

1.          Business Name Reservation - Business Name Reservation application

Like any other developed institution inside Pakistan, the SECP (Securities and Exchange Commission of Pakistan) is equipped with an e-portal.

          Sign up on the online portal of the SECP (Securities and Exchange Commission of Pakistan) propose some names for your business or company.

          There is also an option for processing names through the 'SECP Online Company Name Search.

          After you submit the proposed names for your business, the registrar will finalize the name for your business.

          The SECP (Securities and Exchange Commission of Pakistan) takes a day when it comes to issuing the 'Company Name Reservation Certificate'.

          You would be able to receive the 'Company Name Reservation Certificate' through the postal services or by yourself from the nearest CRO (Company Registration Office).

 

2.         Preparation and Submission of Documents of the Construction Company

The following documentation will be essentially required for the registration of your construction company inside Pakistan:

          Memorandum of Association – You have to highlight the name and address of your construction company inside Pakistan. Also, make sure to elaborate more about the working principles of your construction company inside Pakistan.

          Articles of Association – A documentation having the relevant definition about how your construction company will function or operate inside Pakistan.

          Filing Fee – The filing fee for your construction company depends upon the size and capital of your business. If you register your construction company inside Pakistan, you would need a minimum of PKR 1,800 if your company has a capital of PKR 1 lakh through the online submission portal and PKR 3,500 if you are filling through the offline submission procedure.

 

Documents Required:

          The scanned copies of the board of directors' national ID cards or CNICs.

          If the submission is through offline means or by hand submission, you should also attach the scanned bank deposit receipt.

          The documentation should be made attested by the respective personnel.

          If the documentation occurs through the SECP (Securities and Exchange Commission of Pakistan) e-portal, you should submit the documentation in PDF format.

 

3.         Issuance of Certificate of Incorporation

For working inside the construction industry, you would be required to have the issuance of a certificate of incorporation. National Institutional Facilitation Technologies (NIFT) can provide you with a certificate of incorporation that includes a digital signature for your construction company. The National Institutional Facilitation Technologies (NIFT) evaluates and then verifies your documentation.

 

Registration of your construction company in Pakistan with the FBR (Federal Board of Revenue)

For registration of your construction company in Pakistan with the FBR (Federal Board of Revenue), you would be required to provide the FBR (Federal Board of Revenue) with the below documentation and information related to your construction company in Pakistan.

 

Documentations required for submission to the FBR (Federal Board of Revenue)

          National Tax Number documentation inside Pakistan. click to know how to file income tax return in Pakistan 

          You would be required to have proof of company registration.

          There is also a requirement to submit a memorandum of association.

          Also, you would need to submit articles of association.

          Your Bank account number is associated with your construction company inside Pakistan.

          The scanned copies of the board of directors' national ID cards or CNICs.

          Your business address or office address.

 

Registration of your construction company in Pakistan with the PEC (Pakistan Engineering Council)

If you are not a contractor, registration with the FBR (Federal Board of Revenue) would be enough. Registration of your construction company in Pakistan with the PEC (Pakistan Engineering Council) would be compulsory if you are a contractor. Registration of your construction company with the PEC (Pakistan Engineering Council) would allow you to receive the no-objection certificate (NOC) from working on the civil or government construction contracts.

 

There are different categories for registration of your construction company on PEC (Pakistan Engineering Council): C-A, C-B, C-1, C-2, C-3, C-4, C-5, and C-6.

Registration of the construction company in Pakistan with the PEC (Pakistan Engineering Council) in the different categories depends upon the company's revenue and the number of employees or engineers working in the company etc.

          The Central Enrolment Committee (CEC) processes and approves the following categories of the construction companies inside Pakistan: C-A, C-B, C-1, C-2, C-3, and C-4.

          The Regional and Branch Offices enrol Committees (REC) process and approves the following categories of the construction companies inside Pakistan: C-5 and C-6.

There is specific documentation required to be submitted to the PEC (Pakistan Engineering Council):

You must submit the application form to the PEC (Pakistan Engineering Council).

          The scanned copies of the board of directors, partners, and shareholders' national ID cards or CNICs.

          The submission of the fee payment voucher.

          The bank statement for last year or Audited Financial Statement certified by a Chartered Accountant

          Copy of NTN (National Tax Number) or registration number certificate of your construction company.

          You will also be required to list the machinery and equipment owned by your construction company.

          If your construction company's contract agreement with the machinery supplier, you are also required to submit it to the PEC (Pakistan Engineering Council).

          The hierarchy or organizational chart of the construction company inside Pakistan is signed by the CEO (Chief executive officer).

          A notarized certificate of sole proprietorship OR Copy of partnership deed and FORM C, depending on the company.

          The certificate of incorporation of your construction company inside Pakistan.

          Also submit an undertaking from CEO/directors/partners on stamp paper of PKR 100.

 

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